Geoff Redmond has listed his Club Hotel and adjacent commercial property in Mt Druitt, with a DA for a major redevelopment and nearly 1k apartments.
The 24-hour licensed Club Hotel and the separately leased commercial building are beside a Westfield and Mt Druitt train station, on a 12,009sqm plot in the town centre of one of the most connected locations in western Sydney.
The site holds a concept development approval (DA) for 934 residential apartments and a 6,000sqm retail and commercial precinct. Its scale and zoning are favourable to a broad range of future uses and the potential for subdivision further adds to its flexibility.
On offer is a brownfield opportunity with a substantial holding income, at a scale rarely seen in an established western Sydney precinct.
The Hotel, with 30 EGMs and floor area of approximately 2,400sqm, and the commercial office building on North Parade, spanning roughly 1,800sqm, provide distinct, immediate income streams ahead of any future development.
Mount Druitt is part of the broader growth corridor of Sydney’s greater west, seeing significant State and Federal infrastructure investment linked to the Western Sydney International Airport at Badgerys Creek, due to open in September.
The assets have been held for 30 years by investor and operator Geoff Redmond, who announced the proposal for a massive $300 million remake of the hotel and site in 2021.
Redmond is said to be open to an outright acquisition, seeing pricing guidance of circa $80 million, or a joint venture or staged development partnership, and has engaged JLL Hotels’ John Musca, Ben McDonald and Gordon McFadyen to market the project.
“This is a genuinely rare combination – a large, highly profitable hotel asset and leased commercial building sitting on a town centre site with extraordinary development and subdivision scope,” says Musca.
“From hoteliers to land-bankers, it offers great optionality.”
